Barry Diller Steps Down as IAC CEO

Barry Diller is stepping down as chief executive of IAC/InterActiveCorp (IACI), the company said, adding it had bought out one of its largest shareholders, John Malone’s Liberty Media (LNTA). IAC said on Thursday Liberty had sold its entire equity stake in IAC in exchange for $220 million in cash and the Evite and Gifts.com businesses. The online businesses will become part of Liberty’s Interactive unit. – Reuters